Saturday, October 23, 2021
More

    Latest Posts

    EndSARS: One year after, no evidence of killing at Lekki tollgate -FG

    The Federal Government has claimed that one year after the shooting at Lekki tollgate by soldiers, there is no evidence to show...

    EndSARSMemorial: FG slams CNN, Amnesty on Lekki tollgate stance

    The Federal Government has slammed CNN and global human rights group, Amnesty International, saying they “have continued to shamelessly hold on to...

    Filmmaker releases Abdul to mark #EndSARS first anniversary

    A Nigerian filmmaker Samuel Adeoye has released the trailer of his new short film entitled, Abdul, in commemoration of the one-year remembrance...

    EndSARS: ‘We were shot, SARS still working’, Lagos protesters insist

    There was a large turnout of protesters at the Lekki tollgate on Wednesday leading to gridlock in the area.

    Naira weakens further to 517 against dollar

    The naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent days.

    The local currency fell to 517 against the US currency at the parallel market on Wednesday.

    At the Investors and Exporters’ window, the naira weakened by 0.06 per cent to close at 411.75/$ on Wednesday, according to FMDQ Group.

    The naira had strengthened to 506/$ on August 4 after plunging to 525/$ at the parallel market on July 28, a day after the Central Bank of Nigeria stopped foreign exchange sales to Bureaux de Change. It had been hovering around 508/$ and 510/$ in recent days.

    The CBN Governor, Mr Godwin Emefiele, had on July 27, at the end of the Monetary Policy Committee meeting, announced the stoppage of forex sale to the BDCs, saying they had turned themselves into ‘agents that facilitate graft and corrupt activities of people who seek illicit fund flow and money laundering in Nigeria’.

    He said the CBN would channel a significant portion of its weekly allocation currently meant for BDCs to commercial banks to meet legitimate forex demand for ordinary Nigerians and businesses.

    The PUNCH had reported on Monday that the total forex transactions on FMDQ Securities Exchange rose by about 2.24 per cent last week.

    The Exchange said in the forex spot and derivatives markets, the total turnover for the week ended August 13, 2021 was $692.60m, up from $677.44m reported for the previous week.

    It said the week-on-week increase in turnover was driven by the 12.31 per cent increase in the forex spot, despite the 24.06 per cent decrease in forex derivatives turnover.

    The total value of transactions in the Investors’ & Exporters’ window was $550.14m, representing an increase of 12.31 per cent from $489.85m in the previous week.

    According to the Exchange, the average Nigerian Autonomous Foreign Exchange Fixing rate was N411.17/$, compared to N411.16/$ recorded in the previous week, representing a depreciation of the naira against the dollar by 0.003 per cent.

    The naira, however, appreciated against the dollar by 0.04 per cent at the parallel market as it averaged 510.60/$, compared to 510.80/$ in the previous week.

    Latest Posts

    EndSARS: One year after, no evidence of killing at Lekki tollgate -FG

    The Federal Government has claimed that one year after the shooting at Lekki tollgate by soldiers, there is no evidence to show...

    EndSARSMemorial: FG slams CNN, Amnesty on Lekki tollgate stance

    The Federal Government has slammed CNN and global human rights group, Amnesty International, saying they “have continued to shamelessly hold on to...

    Filmmaker releases Abdul to mark #EndSARS first anniversary

    A Nigerian filmmaker Samuel Adeoye has released the trailer of his new short film entitled, Abdul, in commemoration of the one-year remembrance...

    EndSARS: ‘We were shot, SARS still working’, Lagos protesters insist

    There was a large turnout of protesters at the Lekki tollgate on Wednesday leading to gridlock in the area.

    Don't Miss

    Ifeanyi Ubah wants Nnamdi Kanu’s arrest, detention revisited

    The lawmaker representing Anambra South Senatorial District, Ifeanyi Ubah, has called on the Federal Government to revisit the issue of the arrest...

    Ayu’s emergence as chair: North gets PDP’s nod to contest 2023 Presidency

    The Peoples Democratic Party has given the North the option of producing its presidential candidate in 2023 despite the emergence of a...

    Don’t let police disrupt #EndSARS protests, Falana tells Buhari

    Human rights lawyer, Mr. Femi Falana (SAN), has called on the President, Major General Muhammadu Buhari (retd.), to abide by his oath...

    Anambra election: Police deploy three helicopters, 34,587 personnel

    The Inspector-General of Police, Usman Baba, has disclosed that 34,587 operatives, including special forces, would be deployed in Anambra State for the...

    Anambra poll: Supreme Court affirms Soludo as APGA’s gov candidate

    The Supreme Court has affirmed Professor Charles Soludo as the governorship candidate of the All Progressives Grand Alliance in the Anambra election...

    Stay in touch

    To be updated with all the latest news, offers and special announcements.